Selecting the Right Trustee
A typical misconception about estate planning is that people who are considered older should be concerned with them and that there is always time to go and create a will or trust. The problem with that thought process is that estate plans are much more than the passing of assets to another person. Estate plans […]
Probate, Inheritances, and Property Taxes
The title to the article sums up USA Today’s article Divorce, Death, and Donald Sterling’s Boyhood Home. The article describes several properties in Boyle Heights still owned by Donald Sterling’s deceased mother and grandmother. In California, property taxes are determined by “assessed value,” which is derived from the fair market value of a property at the time […]
Arbitration Provision Not Enforceable to Dispute Validity of Trust
In a recent decision, a California court found that an arbitration provision in a living trust could not be enforced when the beneficiaries were disputing the validity of the trust document. McArthur v. McArthur was a case of first impression in California and is important for all those with a trust to understand that an arbitration provision […]
Mistakes in Philip Seymour Hoffman’s Estate Planning
Celebrity deaths are often followed by a very public battle between heirs over the celebrity’s assets, fame, and residual income. This CNBC article entitled “Here’s Why Philip Seymour Hoffman’s Will is a ‘Mess’” helps others not make the same mistakes. Mistake Number 1 Hoffman’s will is over a decade old. Wills should be changing documents […]
What We Can Learn From Actor Paul Walker’s Estate Plan
Forbes recently had an interesting article entitled Five Estate Planning Lessons from the Paul Walker Estate. It provides an interesting insight into the estate plan of the late actor that was valued at 25 million dollars. His untimely death at 40 years old also shows that estate planning can never be done too early. His first will […]
Estate Planning Tips if You Have Minor Children
Estate planning is different for every age group and for every person; however, there are certain categories of persons that could especially benefit from estate planning. People with young children often do not think about estate planning as they are busy raising children, starting professions, and beginning “adult lives;” however having children should be a […]
